Oil Price Fixing Allegations

Former CEO of Pioneer Natural Resources accused of colluding with OPEC to inflate oil prices, leading to an investigation by the FTC.

China's Stockpiling of Resources and Potential Currency Devaluation

China's stockpiling of important resources like gold and oil has prompted speculation about a potential major devaluation of the CNY, which could have significant global repercussions. The country's actions are seen as preparations for economic instability, possibly related to geopolitical tensions and trade wars.

Global Energy Industry News

The Reuters Power Up newsletter provides comprehensive information on the global energy industry, covering topics such as oil drilling restrictions in Alaska, concerns over Middle East tensions, and market reactions to geopolitical events.

US Politics: Venezuela Oil Sanctions

Ret. Lt. Col. Allen West suggests UN intervention in Venezuela to prevent starvation, Senate Republicans urge Biden to maintain oil sanctions on Maduro regime, Biden administration expected to decide on sanction relief this week.

President Biden's environmental regulations on oil and gas drilling

Republican lawmakers introduce bill to overturn President Biden's environmental regulations targeting oil and gas drilling, citing concerns about strain on the power grid and negative impact on energy prices for consumers.

National Security and Climate Change Lawsuit in Hawaii

Two former Joint Chiefs of Staff chairmen argue that oil and gas products are critical to national security in a legal brief regarding a case in Hawaii where activists are calling for energy companies to pay damages for climate change. They warn that a decision against the companies could have massive repercussions on national security and foreign policy.

Oil Prices Surge Due to Middle East Tensions

Oil prices jumped past $90 a barrel due to escalating tensions in the Middle East, particularly between Israel and Iran. The conflict has raised fears of a wider regional conflict and led to a surge in market volatility.

Cancellation of Strategic Petroleum Reserve Refill

The Biden administration canceled a refill of the Strategic Petroleum Reserve due to rising oil prices, which is seen as a move to protect Biden politically. Critics argue that the administration prioritizes other issues over national security concerns.

Biden Administration's Energy Management

Biden Senior Adviser for Energy and Investment Amos Hochstein discussed the Biden administration's management of the energy transition by ensuring lower prices and highlighted the U.S.'s role as a major oil producer and natural gas exporter while attracting investments. Allies are impressed with the U.S.'s approach to energy transition and investment.

Impact of Biden administration's sanctions on Russian oil sales

Deputy Treasury Secretary Wally Adeyemo stated that Russia will still be able to sell their oil under the newest round of sanctions by the Biden administration, as they haven't banned Russian oil to avoid energy cost increases.